929,940 Shares of Petroleo Brasileiro S.A.- Petrobras $PBR Acquired by Franchise GP Ltd

Key Points

• Franchise GP Ltd acquired 929,940 Petrobras shares in the third quarter, valued at approximately $17.66 million and representing 7.5% of its portfolio. Several other institutional investors also initiated or increased positions.
• Analyst sentiment remains positive, with six Buy ratings and two Holds, resulting in a consensus “Moderate Buy” rating and an average price target of $20.97.
• Petrobras recently announced a special dividend of $0.2649 per share, while the stock traded near its 52-week high at $25.27 and was reported down 2.6%.

Franchise GP Ltd acquired a new position in Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR - Free Report) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 929,940 shares of the oil and gas exploration company's stock, valued at approximately $17,660,000. Petroleo Brasileiro S.A.- Petrobras accounts for 7.5% of Franchise GP Ltd's holdings, making the stock its 3rd largest holding.

Several other hedge funds also recently made changes to their positions in the company. Ellsworth Advisors LLC raised its holdings in Petroleo Brasileiro S.A.- Petrobras by 0.5% in the third quarter. Ellsworth Advisors LLC now owns 381,919 shares of the oil and gas exploration company's stock worth $7,971,000 after purchasing an additional 1,949 shares in the last quarter. NFSG Corp increased its stake in shares of Petroleo Brasileiro S.A.- Petrobras by 153.8% in the 3rd quarter. NFSG Corp now owns 4,125 shares of the oil and gas exploration company's stock worth $86,000 after acquiring an additional 2,500 shares in the last quarter. Ninety One UK Ltd purchased a new position in Petroleo Brasileiro S.A.- Petrobras during the 3rd quarter valued at about $11,176,000. GK Wealth Management LLC purchased a new position in Petroleo Brasileiro S.A.- Petrobras during the 3rd quarter valued at about $97,000. Finally, Sapient Capital LLC purchased a new position in Petroleo Brasileiro S.A.- Petrobras during the 3rd quarter valued at about $256,000.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on PBR shares. Wall Street Zen cut shares of Petroleo Brasileiro S.A.- Petrobras from a "strong-buy" rating to a "buy" rating in a report on Sunday, October 11th. JPMorgan Chase & Co. upped their price target on shares of Petroleo Brasileiro S.A.- Petrobras from $23.00 to $24.00 and gave the stock an "overweight" rating in a research note on Tuesday, September 1st. Zacks Research raised shares of Petroleo Brasileiro S.A.- Petrobras from a "strong sell" rating to a "hold" rating in a research report on Monday, August 31st. Weiss Ratings upgraded shares of Petroleo Brasileiro S.A.- Petrobras from a "buy (b-)" rating to a "buy (b)" rating in a research note on Friday, October 9th. Finally, UBS Group lifted their target price on shares of Petroleo Brasileiro S.A.- Petrobras from $22.00 to $23.00 and gave the stock a "buy" rating in a report on Wednesday, September 23rd. Six investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $20.97.

Petroleo Brasileiro S.A.- Petrobras Stock Down 2.6%

Petroleo Brasileiro S.A.- Petrobras stock opened at $25.27 on Friday. Petroleo Brasileiro S.A.- Petrobras has a one year low of $11.43 and a one year high of $25.95. The stock has a fifty day moving average of $20.72 and a 200 day moving average of $19.61. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.58 and a current ratio of 0.85. The stock has a market cap of $162.82 billion, a PE ratio of 6.38, a price-to-earnings-growth ratio of 1.00 and a beta of 0.29.

Petroleo Brasileiro S.A.- Petrobras Dividend Announcement

The firm also recently disclosed a special dividend, which will be paid on Tuesday, December 1st. Stockholders of record on Tuesday, August 25th will be given a dividend of $0.2649 per share. The ex-dividend date of this dividend is Tuesday, August 25th. Petroleo Brasileiro S.A.- Petrobras's payout ratio is presently 10.86%.

Petroleo Brasileiro S.A.- Petrobras Company Profile

Petróleo Brasileiro SA, commonly known as Petrobras, is a Brazilian state-controlled, integrated energy company headquartered in Rio de Janeiro. Founded in 1953, the company is engaged primarily in the exploration, development, production, refining, transportation and marketing of oil and natural gas.

Petrobras has a major focus on offshore operations, particularly the development of Brazil's pre-salt oil fields in the Santos and Campos basins. Its activities also include the processing and sale of petroleum products, natural gas and biofuels, as well as participation in power generation and other energy-related businesses.

The company serves the Brazilian market through its production, refining, logistics and distribution activities and has historically maintained international operations and partnerships.

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